mr-sky

Stock analysis of Grasim Ltd.

Short
NSE:GRASIM   GRASIM INDUSTRIES
Grasim CMP - ₹588.90 Dt. – 15-07-2020
On the weekly chart, you can see how the stock is falling since 2018. The stock has given closing below 20DEMA. A support level is placed at ₹581.15 and if the price breaks then it can go below ₹500 easily. Redline will act as a crucial support line but it will take a couple of months to reach there.
If some good news comes in coming days then the stock will face resistance at ₹635.10 and the upper yellow line will be a crucial point, if price sustains above upper yellow line then finally stock will come out of the bearish zone.
On the daily chart , CCI and MACD have given a sell signal.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.